Founded to mint the bits that make cyberspace habitable.

BitMint Intellectual Properties

US PATENT 11,107,156: DIGITAL FINANCE: CASH, CREDIT, AND INVESTMENT INSTRUMENTS IN A UNIFIED FRAMEWORK (BITMINT)

The BitMint digital money flagship patent: specifying the methodology for the BitMint financial language, how to express money in all its forms: cash, credit, debit, investment instruments. How to store and transact money securely and efficiently. This BitMint money offers full privacy for ordinary payors and payee, while providing means to enforce court orders on suspicious transfer of money. This patent specifies a cascaded format to track any financial complexity in a mathematically simplified form, amenable to computer manipulation, ready for conditional payments and for means to extract greater social impact from the national currency.

US PATENT 11,062,279: HARD WALLET: A NEW TRUST BASIS FOR DIGITAL PAYMENT

This patent creates a new basis for payment trust. When we pay with banknotes we trust the money, when we pay with credit card, or with peer validated system, we trust the payor. With this invention a third option becomes available: trusting the wallet. The physical wallet commands trust because its identity can be ascertained through billions of measurements and physical properties -- the ultimate way to ascertain physical identity. This identification technology is applied to the payment device, which then passes its trusted validity to the payment bits that emerge from it. This hard wallet gains the trust of the payee without having to connect real time to the internet. It therefore allows for digital payment without global connectivity. And by having one such trusted wallet pass money to another trusted wallet, then the trust of the original wallet is passed along to the second wallet, and from there to the third, etc. All together a society holding such trusted hard wallets will conduct payment cash like even with persistent lack of global connectivity. In other words, this invention will keep payment continuity while the Internet is down, and do so indefinitely. The hard wallet will confer its trust to the money inside and to the software inside. The wallet can be secured to its owner via a bio port. The hard wallet works with BitMint digital coins as well as with other than BitMint digital coins. It provides the ultimate solution to the paramount requirement of payment continuity under all conditions.

US PATENT 9,471,906: DIGITAL TRANSACTIONAL PROCEDURES AND IMPLEMENTS

This patent is a simplified version of the hard wallet. It is a physical coin commanding trust through the integrity of its shell, designed to be so brittle that any attempt to tamper with it will cause it to shutter to hundreds of small pieces. And therefore if handed over in one smooth piece, the shell is to be regarded as untampered with. And if the shell is trusted, then the payee will trust that inside the shell there is a memory (microSD) containing digital money in the denominated amount of the coin. As long as the shell is kept intact the coin will be passed around like a regular coin. When the shell if broken the digital money therein is uploaded and used. This simple payment solution can be used for store gifts, loyalty money, goodwill money etc.

US PATENT 8,229,859: BIT CURRENCY: TRANSACTIONAL TRUST TOOLS

This original patent contains the foundation of the BitMint vision. It features an important novelty: delegation of authority to authenticate a transaction. The patented methodology will allow a central authentication authority to delegate that authority to subordinate centers, who could further delegate the authority below them, creating a vast hierarchical network to efficiently serve the trading public. While the authenticated money is envisioned to be BitMint money, this is not a requirement. Delegation of authority to authenticate transactions can be applied to a wide range of digital money solutions. By applying it one resolves the vulnerability of dependence on a single all-knowing database. This patent creates the power to trickle down authentication power without exposing the original database to the delegated stations.

US PATENT 10,965,460: ROBUST SECURITY TECHNOLOGY FOR COUPONS

This patent extends the BitMint financial language to store money and loyalty cash, leveraging the power of stores to use their current customers as recruiters for future customers. This very efficient way to grow one's business is carried out via cryptographic means applied on the BitMint coin which has not only a value but also an identity -- making it trackable, and guidable. A host of new imaginative ways to grow one's business are being developed on the basis of this fundamental patent.

BitMint Money Language Technology

BitMint Technology is based on the novel and forward looking notion that quantum randomness can improve every technology in almost every field. Here we focus on digital money solutions, where we claim that every digital coin on the market today can be improved with proper injection of quantum randomness. And we further claim that it is advantageous to use the mathematically most basic, simplest expression of money -- and then inject quantum randomness into it, in order to upgrade it to achieve everything that digital money is expected to achieve. The result is BitMint -- it's robustness and security is insured by its utmost simplicity.

BitMint is a technology hub pioneering novel thematic innovation through the methodology of Artificial Intelligence Assisted Innovation (AIAI). Combining material sciences and computer sciences, with financial insight, and recognizing quantum randomness as the cyber oil that powers cyberspace, BitMint is marching on with 23 awarded patents and about three dozen more in the pipeline. We focus our new technology on the dramatic promise of cyber finance, and secure exchange of value.

BitMint awarded patents: (partial list)

6,823,068 * 8,229,859 * 9,471,906 * 10,395,053 * 10,445,730 * 10,467,522 * 10,523,542 * 10,541,808 * 10,541,954 * 10,594,480 * 10,608,814

BitMint products and technology (software and hardware) are driven by the recent realization that the rise of commercially available quantum grade randomness is a game changer. Skillful deployment of randomness throughout cyberspace is the call of the hour, and we are up to it.

Here we focus on the effective use of quantum-grade randomness as the critical ingredient for construction of a comprehensive financial platform, designed to move and store money fast, efficiently, conveniently, and most importantly: securely.

Money becomes digital -- this train is moving and it is not going back, not halting either. Since 2009 the momentum was with bitcoin -- creating and facilitating a new currency. At the time Prof. Gideon Samid described bitcoin as "alchemy" -- the craft the predated chemistry, was overly ambitious, and totally failed (despite being practiced by revered luminaries like Isaac Newton). Yet, the underlying ideas were reshaped and gave rise to chemistry which turned out to be such a cultural life changer. Similarly bitcoin, and its imitators, are the modern version of alchemy, while BitMint is the modern version of chemistry.

BitMint is technologically the most efficient way to achieve dematerialization of money. It is mathematically optimized to express digital money as the digital image of the familiar banknotes and jingling coins.

Today digital money is a number in a memory address, it has no identity. Banknotes in your wallet, and coins in your pocket -- each has a material embodiment making it distinct and identifiable. BitMint money shares this all important feature: BitMint cash is like old cash: each BitMint coin has a value and a unique identity.

This is the distinction that underlies BitMint bold claim that BitMint coins will be the money of the 21st century, and BitMint financial platform will be the universal rails for everything financial: credit, saving, investment, and special purpose money.

"Gideon is one of the world's leading experts when it comes to digital currency and cryptography. His work is always intelligent and insightful." --Steven M. Elefant, Soaring Ventures

"An extraordinary set of new ideas making digital money more versatile as we have ever seen before. Prof. Samid's unique style puts future technology into a historical frame. Couldn't stop reading his technical explanations built on daily life examples ..." --Helmut Scherzer, Giesecke & Devrient

"So many things about new forms of money you might have never asked, and now you have a chance to learn." --Jana Hromcová, Universitat Autònoma de Barcelona

"It is my opinion this book is a definitive analysis of the importance of understanding the ramifications of the probable acceptance, and transition to economies based on non-sovereign issued virtual currencies. Gideon Samid's insights as an authority on the attributes of a transparent tethered currency model are compelling relating to how this type of virtual currency model can potentially offer an added level of control to assure the appropriate utilization of funds as intended when transfered by individuals, governmental, or quasi-governmental organizations, especially significant for countries where currency transfers can be virtually impossible." --Daniel Schwartz, AMIDEX35 Israel Mutual Fund

"Tethered Money highlights a very promising possibility unique to digital money: insuring it is used as intended -- not abused, not wasted. It deserves our full attention" --Avivah Litan, Gartner

"Digital currency is a hot topic these days, and I can’t think of a keener mind than that of Gideon Samid to examine it. Gideon has that rare gift-the ability to explain complex subjects so that just about anyone can understand them." --John Stewart, Digital Transactions Magazine

"As one who has a professional interest in virtual and crypto currencies and how such technologies will necessitate changes in the payment and compliance landscape, I find this book a worthwhile read, particularly to those who need to quickly understand tethered money." --Kim-Kwang Raymond Choo, University of South Australia

"Most of the traditional money supply is bank money held on computers. This is also considered digital currency. However, central bank representatives have stated that the adoption of digital currencies pose a significant challenge to central banks' ability to influence the price of credit for the whole economy. Prof Gideon Samid is utterly convincing that the future lies with such currencies and that most criticism is not an impediment on their ultimate use. The above criticism is about resistance to innovation. While the result of innovation can be excellent new products and services, one reason innovation is difficult to do is the undeniable fact that innovation introduces change. Gideon Samid’s new book is all about managing the DIGITAL CURRENCY CHANGE." --Boaz Barack, Centralway Ventures AG

"A must if you want to have a very accurate picture of today’s issues and future prospects related to digital money with special stress on security and usage" --Francisco José Callado Muñoz, Centro Universitario de la Defense (CUD) de Zaragoza

"Gideon Samid's Tethered Money describes digital currency technology available that is able to revolutionize how humankind exchanges currency in a safe online environment. As an attorney, I am thrilled that digital currency technology exists that can very literally, by its own operation, enforce the terms of a contract. As an individual, I welcome the day when governments use, and require entities to use, existing, less risky technology to ensure my online transactions are safe. Samid's work contains more than theories - he provides step-by-step instructions demonstrating how to move past the current, cryptographically unsafe third party payment processing systems and the waste and bulk involved in carrying coin and paper currency. I am looking forward to living in the world he describes." --Maryann M. Bullion, Esq.

"Cryptocurrency, such as Bitcoin that initially came on line in 2008, is a candidate for a new type of money based on cryptography and internet. Gideon Samid exposes how cryptocurrency works as a system in concise and rigorous way in Tethered Money to tell risks and possibilities and to help us with predicting the future of this kind of money." --Tetsuya Saito, Nihon University College of Economics

"Gideon provides a set of expansive and thought-provoking criticisms of both our present financial institutions and more our novel cryptography-based apparatus. Useful reading for anyone considering the technological, legal and social future of money, banking and finance." --Gavin Wood, Ethereum